Sumitomo Mitsui Trust Group Inc. Acquires 22,396 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 4.6% during the fourth quarter, Holdings Channel reports. The fund owned 504,362 shares of the medical equipment provider’s stock after purchasing an additional 22,396 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Zimmer Biomet were worth $53,276,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Equity Investment Corp purchased a new stake in Zimmer Biomet during the 3rd quarter valued at about $70,104,000. Hotchkis & Wiley Capital Management LLC boosted its position in Zimmer Biomet by 49.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock worth $189,161,000 after purchasing an additional 577,320 shares during the last quarter. Van ECK Associates Corp increased its holdings in Zimmer Biomet by 12.4% during the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after buying an additional 411,163 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new position in Zimmer Biomet in the 3rd quarter worth $41,588,000. Finally, FMR LLC grew its stake in shares of Zimmer Biomet by 27.6% during the 3rd quarter. FMR LLC now owns 750,336 shares of the medical equipment provider’s stock valued at $80,999,000 after acquiring an additional 162,384 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Down 0.5 %

NYSE ZBH opened at $100.40 on Tuesday. The company has a market cap of $19.99 billion, a P/E ratio of 22.56, a P/E/G ratio of 1.83 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a one year low of $99.67 and a one year high of $133.90. The business has a fifty day moving average price of $107.34 and a 200 day moving average price of $108.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 1.91.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same period in the previous year, the business posted $2.20 earnings per share. Research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.25 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, December 30th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.96%. Zimmer Biomet’s dividend payout ratio is currently 21.57%.

Analysts Set New Price Targets

A number of equities research analysts have commented on ZBH shares. Stifel Nicolaus raised their price target on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Raymond James dropped their price target on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday. Barclays reduced their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research note on Monday. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 price objective on shares of Zimmer Biomet in a research report on Friday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $124.15.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.